Loading…
The rand was pushed lower on April 25 to 15.665 per dollar, its weakest in about three months, as a strong dollar and global growth worries weighed on emerging-market currencies. The rand had lost more than 6% the prior week on Eskom power cuts and flood damage.
Emerging-market currencies were also pressured by China's COVID lockdowns and the Russia-Ukraine commodity shock.
A weaker rand raises South African import costs for feed ingredients. Broad emerging-market currency weakness reflects demand concerns that could soften commodity prices.
brecorder.comReutersApr 25, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
